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I noticed that a lot of us here simply want to get out of poverty and are unconcerned about the technology behind crypto.

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by COINS NEWS 204 Views

And I've seen that many of us would like to immediately jump and FOMO to crypto especially with the rise of BTC lately (around Oct 21st) and be able to work for a few years or not be in debt. And just looking at it is depressing enough, especially with COVID still around the corner. It wouldn't take much for them to attain this, but with their existing employment and bills, it's often difficult. And this is largely due to our existing economic and financial systems that’s terribly inefficient and how people are not adapting to newer trends, technologies, etc.

This can also be a very dangerous mindset. If you invested in crypto to get out of poverty, you'd be emotionally involved in how it succeeds. During a bull run, it's easy to believe you're unstoppable. However, when the correction occurs and we are locked in another 3-4 year slump, we will be very vulnerable.

Which is why if we invest in crypto, we also need to get to know the tech… If you understand the technology, you are likely to make good investment decisions. This is what brought me to projects like ANATHA which proposes a fresh and innovative solution to poverty alleviation: UBI. There are also people finding financial freedom with crypto games like Axie Infinity and articles saying that blockchain could hold the key to ending poverty.

In my situation, I'm investing in crypto and all these other projects because I believe in the technology, but the objective of investing is to earn money. And if life were just too simple, we would simply come for the money and be able to live a better life without having to worry about the cost of groceries and other such things...

Cryptocurrency is unlikely to provide a direct solution to poverty. On the other hand, it provides everyone a voice and a choice. It does not close the gap, but it does raise the floor of poverty. For poor nations, having access to banking and financial institutions is critical for economic success.

submitted by /u/JennyMickle
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